1988 History/Videos

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1988 The Hubble Space Telescope Goes into operation
to explore deep space and is still in full use today mapping our universe.
A bomb is exploded on Pan Am Flight 103 over Lockerbie in Scotland. Also
Prozac is sold for the first time as an anti-depressant some of the great
movies that year included Rain Man, Die Hard and A Fish Called Wanda

Cost of Living 1988

How Much things cost in 1988
Yearly Inflation Rate USA 4.08%
Year End Close Dow Jones Industrial Average 2168
Interest Rates Year End Federal Reserve 10.50%
Average Cost of new house $91,600.00
Average Income per year $24,450.00
Average Monthly Rent $420.00
Average Price for new car $10,400.00
1 gallon of gas 91 cents
Movie Ticket $3.50
US Postage Stamp 24 cents
Dozen Eggs 65 cents

What Events Happened in 1988

After 8 years
and 1.5 million dead the Iran -- Iraq war ends

Iraq carries out Poison Gas Attack On Kurds

Earthquake in Armenia Kills 60,000

Suspected Libyan terrorist bomb explodes on
Pan Am jet over Lockerbie in Scotland killing all 259 on board
and 11 on the ground

Australia celebrates its bicentennial.

A new drug Crack appears ( A derivative
of Cocaine ) and is increasingly found in US Cities

UK SAS kill suspected IRA bombers in
Gibraltar

The English Pound Note ceases to be
legal Tender

Salmonella is found in Eggs in Britain
causing problems for British Farmers

Laws restricting opening times for UK Pubs
are changed allowing Pubs to stay open all day